Bitcoin still maintains a “bullish market structure” after another retest of the $60,000 support level, according to recent analysis.
Trader and analyst Rekt Capital dismissed the “fearful” market sentiment surrounding the current price action of BTC, which is at $60,779.26, in one of his latest updates on X.
Rekt Capital emphasized that Bitcoin is familiar with the $60,000 mark as a fundamental psychological level, stating that returning to test it from above is no reason for concern.
Bitcoin (BTC/USD) has experienced a drop of approximately 6% over the past three days, having previously reached two-month highs above $66,000, according to data from Cointelegraph Markets Pro and TradingView.
“BTC has revisited the low $60,000s countless times over the past several months,” the X post noted.
“And yet people become equally fearful on a pullback and for a different reason every time. Same price. Different narrative. Never a loss in bullish market structure.”
Rekt Capital’s confident sentiment is echoed by fellow trader Jelle, who stated that BTC/USD is still undergoing a significant resistance/support (R/S) flip.
“A bit of red to start the quarter, and everyone is in full-on PTSD mode,” he remarked to his X followers.
“Meanwhile, Bitcoin’s market structure is bullish again, and we’re turning key S/R back into support. Don’t get shaken out.”
Previously, Cointelegraph reported on bearish BTC price predictions that suggested a drop of up to 10% or more below $60,000 if that level gives way.
Entrepreneur and crypto enthusiast Mark Cullen joined the bearish camp on October 3, advising traders to prepare for a potential dip to around $57,000.
“It’s taking time, but Bitcoin still appears to be heading lower,” his X post concluded.
Analyzing on-chain data, Checkmate, the pseudonymous creator of data resource Checkonchain, assessed recent price performance in light of profit-taking by Bitcoin speculators.
This analysis utilized the short-term holder spent output profit ratio (STH-SOPR) metric, which examines the proportion of funds in profit when moved on-chain by speculators.
STH-SOPR has dipped below its center value of 1.0, potentially creating a viable “buy the dip” opportunity.
“If Bitcoin STH-SOPR is high… don’t buy, it means folks are taking profit and applying sell-side,” Checkmate stated.
“Conversely, in a bull market, dips back to 1.0, or preferably short sharp undercuts of it are opportunities to stack the cheapest sats.”
Crypto exchange Kraken will cease its support for the privacy token Monero in the European Economic Area (EEA).
Kraken announced that it will stop trading and deposits for all Monero (XMR) markets in the EEA effective from Oct. 31, 2024. This decision includes trading pairs with U.S. dollars, euros, Bitcoin (BTC), and Tether’s USDt (USDT).
The exchange cited regulatory and compliance obligations as the reason for discontinuing support for XMR. In a statement, Kraken said:
“After thorough consideration, and exploration of all viable alternatives, we concluded we have no choice but to delist Monero (XMR) in the European Economic Area (EEA) due to regulatory changes.”
While Kraken will halt trading and deposits for XMR, users have until Dec. 31 to withdraw their tokens. If users do not withdraw their XMR tokens by the deadline, Kraken will convert them into BTC. The converted tokens will be distributed on Jan. 6, 2025.
New regulations now prohibit the use of privacy tokens. This decision follows regulatory developments in the European Union that restrict crypto asset service providers (CASPs) from using privacy-focused tokens like Monero or offering accounts for anonymous users.
Earlier this year, Kraken ended XMR trading in Ireland and Belgium. On April 11, the exchange warned users to close their positions on XMR or risk having them automatically closed. In 2021, Kraken also discontinued support for Monero for customers based in the United Kingdom.
Other jurisdictions have implemented crackdowns on privacy-focused tokens. Japan banned anonymity-enhanced tokens in 2018, while South Korea followed suit in 2020. Australian exchanges also began delisting privacy tokens due to new regulations.
Dubai prohibited all activities related to privacy coins and the issuance of anonymity-enhanced tokens on Feb. 7, 2023.
A day after Kraken’s announcement, XMR’s price declined by 8%, dropping from $154 on Oct. 1 to $141 on Oct. 2, according to Cointelegraph Markets Pro data.
While the delisting may have impacted Monero’s price, the broader crypto market also faced challenges, with the overall market cap declining by 6.3% in the past 24 hours.
- Chromia invests in Elfa AI to advance AI-driven crypto market insights.
- The move marks its first investment via its Data and AI Ecosystem Fund, launched in September.
- New features are set to be launched on Elfa AI following the strategic capital raise.
Leading relational blockchain Chromia announced a strategic investment in Elfa AI, an AI-powered social platform designed to help users navigate the crypto market through real-time, data-driven insights. The investment aims to revolutionize how crypto traders and investors analyze the crypto market trends, adding a component of AI to improve their analysis, especially on social media.
The strategic investment marks the first backing via the recently launched Chromia’s Data and AI Ecosystem Fund, unveiled during the Token2049 conference in Singapore.
Partnership Set To Advance AI-Powered Crypto Market Insights
Adding to the investment, the two companies will also partner to advance the crypto trading and investing scene. Currently in its whitelisting stage, Elfa AI applies artificial intelligence to large volumes of data from platforms such as X and Telegram, streamlining the process of identifying actionable trends in the fast-moving world of cryptocurrency. The company leverages AI and machine learning to filter and analyze vast amounts of information, allowing users to find and focus on the most relevant market signals and trading opportunities.
In short, Elfa AI’s platform aims to simplify how users engage with cryptocurrency data, offering a streamlined and efficient approach to staying informed in a rapidly changing market. Speaking on its first investment via its newly launched fund, Yeou Jie, Head of Business Development at Chromia, stated:
“Elfa AI stands out because of its ability to harness AI to deliver real-time, actionable information in the fast-paced world of crypto. We believe their platform has the potential to change how users engage with crypto markets, and we see a natural alignment between their data-driven approach and Chromia’s blockchain infrastructure.”
Chromia Launches $20 Million Data and AI Ecosystem Fund
During the Token2049 conference this September, Chromia announced a new $20 million Data and AI Ecosystem Fund to help advance building and developing AI and data solutions across the blockchain space. The fund is aimed at supporting projects that utilize data in innovative ways within the blockchain space.
The launch of this initiative aims to pick out standout projects building on Chromia or other blockchains, form strategic partnerships with these data-intensive projects and invest long-term in them. The fund is agnostic in terms of industry focus, extending its reach to established Web3 sectors such as DeFi, NFTs, and gaming. The primary goal is to attract a diverse set of partners who will build native DApps on Chromia or integrate its technology into their existing products.
Similar to Elfa AI’s investment, Chromia’s fund is part of the company’s broader strategy to support projects that enhance the capabilities of decentralized applications by improving data management and accessibility.
Looking Forward
Chromia’s strategic collaboration with Elfa AI is expected to benefit millions of users globally in their crypto trades and investment analyses. More to it, the partnership aligns with the goals of both firms as Chromia’s relational blockchain architecture, which supports efficient management of large datasets, aligns with Elfa’s data-centric approach.
Through the partnership, the two platforms will explore and advance ways to enhance data accessibility and transparency by leveraging Chromia’s infrastructure to allow public verification of data used within the Elfa ecosystem. Additionally, Elfa will explore integration with Chromia’s developer-friendly tools, facilitating more efficient retrieval and analysis of on-chain data for both users and developers.
In the future, the strategic partnership is expected to expand the growth opportunities, in adoption and crypto market solutions, providing Elfa AI users with the potential to create their own tools and solutions using open-source datasets stored on Chromia blockchains. Over time, as more developers and users interact with these tools, both platforms aim to advance the application of AI technology to produce actionable market insights.
Pepe October could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Pepe October (PEPEOCTO), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days.
This is because PEPEOCTO is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Pepe October can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Pepe October could become the next viral memecoin.
Pepe October launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Pepe October on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe October by entering its contract address – 3TQoPEwAXAQZ7RPs1h3TwZ7QwWDz2UDda5yvYPVrQakJ – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEOCTO.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Elon the Manipulator could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Elon the Manipulator (ELONMAN), a new Solana memecoin that was launched today, is set to explode over 14,000% in price in the coming days.
This is because ELONMAN is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Elon the Manipulator can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Elon the Manipulator could become the next viral memecoin.
Elon the Manipulator launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Elon the Manipulator on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Elon the Manipulator by entering its contract address – EoyaH5mu714njSykwEriSN5MLX6qUaiXfkRerob9Cv2a – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like ELONMAN.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Degen Trump could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Degen Trump (DEGTRUMP), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days.
This is because DEGTRUMP is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Degen Trump can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Degen Trump could become the next viral memecoin.
Degen Trump launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Degen Trump on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask, or Phantom wallet and swap Solana for Degen Trump by entering its contract address – HFPtQ8Uu23US2ziuyQanSYjnnB3uWcykMPhjC2fsHQjL – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance, and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE), and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE, and WIF investors are instead investing in new Solana memecoins, like DEGTRUMP.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Supply chain management presents significant challenges, with its intricacies and potential for disruptions. I’ve personally encountered these issues and discovered blockchain technology as an innovative solution.
This advanced technology is transforming supply chains in remarkable ways. I’ll explain how blockchain is enhancing transparency and efficiency throughout the process. This is fascinating information that could reshape business practices.
I’m excited to explore this groundbreaking technology with you and share its potential impact.
Key Takeaways
- Blockchain creates a decentralized, unchangeable record of all supply chain transactions, allowing real-time tracking and verification of goods.
- Companies like FedEx, Walmart Canada, and Mitsubishi Logistics use blockchain to monitor shipments, sync logistics data, and track pharmaceutical deliveries.
- Smart contracts on blockchain automate tasks like checking if obligations are met and triggering payments, streamlining processes and reducing delays.
- Blockchain improves transparency, efficiency, and trust in supply chains, helping businesses meet regulations and customer needs more easily.
- As more firms adopt blockchain technology, supply chains across industries are becoming faster, cheaper, and safer.
Enhancing Traceability and Transparency in Supply Chains
Blockchain tech brings new levels of trust to supply chains. I can now track products from start to finish with ease.
Using blockchain for real-time tracking and verification of goods
I’ve seen blockchain revolutionize supply chain tracking and verification. This tech creates a decentralized, unchangeable record of all transactions. It lets companies track goods in real-time, boosting transparency and trust.
For example, FedEx uses blockchain to monitor shipments as they move. This gives customers up-to-the-minute updates on their packages.
Blockchain also helps companies sync their logistics data. Walmart Canada uses it with trucking firms to keep everyone on the same page. Another great example is Mitsubishi Logistics’ ML Chain platform.
They use it to track pharmaceutical shipments, ensuring medicines reach patients safely. By linking with ERP systems, blockchain makes all these transactions smoother and more integrated.
Blockchain in supply chains isn’t just about tracking – it’s about building trust through transparency.
Increasing Efficiency and Reducing Disruptions
Blockchain cuts delays and streamlines processes in supply chains. Want to know how? Keep reading!
Streamlining processes and minimizing delays through decentralized ledgers
I’ve seen firsthand how blockchain streamlines supply chain processes. It uses decentralized ledgers to track goods in real-time, cutting delays. For example, I watched a retailer send an order to a supplier using digital tokens.
This instant record-keeping sped up the whole process. Banks also use these blockchain transactions to make better financing choices. I’ve noticed how this improves cash flow for businesses.
Smart contracts are another game-changer I’ve witnessed. They automate tasks like checking if obligations are met and triggering payments. The Mitsubishi Chemical Group showed me their pilot project.
They use color-coded tokens to trace methacrylates through the supply chain. It’s amazing how blockchain can lower transaction costs and boost visibility. These efficient, transparent systems are reshaping supply chain management before my eyes.
Conclusion
Blockchain technology is changing supply chain management for the better. It brings new levels of trust and speed to how goods move from makers to buyers. Companies can now track products in real-time, cut costs, and work together more smoothly.
This shift helps businesses meet rules and customer needs more easily. As more firms adopt blockchain, we’ll see faster, cheaper, and safer supply chains across industries.
Binance founder and former CEO Changpeng “CZ” Zhao was released from a United States federal prison on Sept. 27 after serving a four-month sentence for Anti-Money Laundering (AML) violations, according to a spokesperson for the United States Federal Bureau of Prisons who spoke to Cointelegraph.
CZ pled guilty in November to federal charges related to the failure to implement adequate AML controls at Binance, which is recognized as the world’s largest cryptocurrency exchange by daily trading volumes. This was stated in a Nov. 21 announcement from the US Department of Justice. Following his guilty plea, he also resigned from his position as CEO of Binance.
With a net worth estimated at around $60 billion, CZ is now the wealthiest individual to serve a prison sentence in the United States.
In April, CZ agreed to return to the US from Dubai to fulfill his four-month sentence. He spent the initial two months in a minimum-security prison in Southern California before moving to a halfway house in Long Beach, where he was allowed supervised daytime outings, as reported by Fortune on Sept. 26.
“We are delighted that CZ will be home with his family,” a spokesperson for Binance remarked, adding, “While he is not managing or operating Binance, we are excited to see what he does next. Since last year, Binance has continued to thrive under the leadership of our current team, surpassing 230 million users globally.”
CZ’s four-month sentence was a substantial reduction from the 36 months originally sought by the DOJ to reflect the seriousness of the offenses.
The US Department of Justice stated that CZ’s guilty plea encompassed not just AML violations but also unlicensed money transmitting and sanctions violations. Prosecutors indicated that CZ was aware that his decision not to implement an effective AML program would allow Binance to facilitate transactions between US users and those in sanctioned countries.
As part of the settlement, CZ agreed to pay a $50 million fine, while Binance itself incurred penalties totaling $4.3 billion for violations of US AML laws. Nonetheless, CZ’s personal fortune remains intact, and he retains a majority stake in Binance, estimated at 90%.
Flying Pepe could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did.
Flying Pepe (PEPEFLY), a Solana memecoin launched today, is set to explode over 16,000% in price in the coming days.
This is because PEPEFLY is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings.
Currently, Flying Pepe can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Flying Pepe could become the next viral memecoin.
Flying Pepe launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Flying Pepe on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Flying Pepe by entering its contract address – BoJEPfp9ijc6DSAE97fuD4sZ5ubXVFhPaGcdd6Gs4kg1 – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEFLY.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Musk Eats Pepe could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Musk Eats Pepe (MUSKPEPE), a new Solana memecoin that was launched today, is set to explode over 15,000% in price in the coming days.
This is because MUSKPEPE is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Musk Eats Pepe can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Musk Eats Pepe could become the next viral memecoin.
Musk Eats Pepe launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Musk Eats Pepe on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Musk Eats Pepe by entering its contract address – 9yTUJXbfShEF4TP3chE1hvoqT7TiqNdTi3kcdDYn2NKp – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like MUSKPEPE.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.